Aegon Religare Life to offer more online products

After success of iTerm and iMaximise, the company plans to come out with several on-line products offerings over the next few months

Aegon Religare Life Insurance (ARLI) said it plans to launch several Internet offerings over the next few months.

"After the success of iTerm, we launched our second unit-linked on-line product iMaximise for high networth individuals through invitation strategy at February end. Till date, we have received Rs8.71 crore as premium," Aegon Religare Life Insurance Company chief marketing officer Yateesh Srivastava said.

After success of both iTerm and iMaximise, the company plans to come out with several on-line products offerings over the next few months, he said.

"We have already filed one on-line health product with the regulator awaiting their approval. We are also planning on one protection product and a few hybrid offerings," Srivastava added.

About 10% of the company's business comes from the on-line offerings, while the rest 90% from the off-line products. Aegon Religare Life Insurance has 16 off-line products and is also aiming at around 10% growth from its online product offerings, the chief marketing officer said.

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Inflation a key concern for govt: FM

"...when the going gets tough, the tough gets going. I do not believe in despondency. Difficulties have to be overcome by ourselves, not by anybody else," a confident Pranab Mukherjee said while reacting to the RBI's rate hike

New Delhi: Finance minister Pranab Mukherjee today cautioned that year-end inflation may not be less than 6%-7% even as the government and the Reserve bank of India (RBI) are making sustained efforts to fight price rise, reports PTI.

"We are fighting against inflation... increase in repo and reverse repo by the RBI yesterday conveys a strong signal... (but) we shall have to keep in mind that year-end inflation may not be less than 6%-7%," Mr Mukherjee told reporters here.

The RBI yesterday gave a rude shock to the industry, market and borrowers by increasing sharply, the key interest rate by 50 basis points.

Expressing concern over 9.44% headline inflation in June, he said, "Though food inflation has softened as compared to 22% in February 2010, still 8% food inflation is not acceptable."

While accepting that there are challenges before the Indian economy arising out of domestic and global factors, the finance minister said, he did not believe in despondency.

"...when the going gets tough, the tough gets going. I do not believe in despondency. Difficulties have to be overcome by ourselves, not by anybody else," a confident Mr Mukherjee said.

While there was some deceleration in industrial production and slower growth in interest-sensitive sectors, he expressed confidence "that the Indian economy would be in a position to come back".

Referring to the burning issue of black money, the finance minister said the government was committed to tackle the menace.

"Effort against black money is relentless...both administrative and legal steps have been taken to fight against this menace," he said.

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